Citigroup Cuts Avery Dennison (NYSE:AVY) Price Target to $185.00

Avery Dennison (NYSE:AVY) had its price target cut by equities research analysts at Citigroup from $190.00 to $185.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price objective indicates a potential upside of 12.29% from the stock’s current price.

AVY has been the subject of several other research reports. Raymond James Financial set a $192.00 price objective on Avery Dennison in a report on Tuesday, April 21st. JPMorgan Chase & Co. reduced their target price on shares of Avery Dennison from $205.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group lowered their price target on shares of Avery Dennison from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Avery Dennison in a report on Friday, March 27th. Finally, BMO Capital Markets lifted their price objective on shares of Avery Dennison from $215.00 to $224.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.11.

Avery Dennison Stock Performance

Shares of NYSE:AVY traded up $1.80 during midday trading on Thursday, reaching $164.75. The company had a trading volume of 264,739 shares, compared to its average volume of 642,184. The stock has a market cap of $12.67 billion, a P/E ratio of 18.74, a P/E/G ratio of 2.73 and a beta of 1.00. The company has a current ratio of 1.13, a quick ratio of 0.76 and a debt-to-equity ratio of 1.43. Avery Dennison has a 52-week low of $156.23 and a 52-week high of $199.54. The company’s 50 day moving average price is $174.85 and its 200 day moving average price is $178.02.

Avery Dennison (NYSE:AVY) last released its earnings results on Tuesday, April 28th. The industrial products company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.06. Avery Dennison had a net margin of 7.77% and a return on equity of 33.84%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the company earned $2.30 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Avery Dennison has set its Q2 2026 guidance at 2.430-2.53 EPS. As a group, sell-side analysts anticipate that Avery Dennison will post 10.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mitchell R. Butier sold 13,000 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $171.50, for a total value of $2,229,500.00. Following the sale, the director owned 198,147 shares in the company, valued at approximately $33,982,210.50. This trade represents a 6.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Ignacio J. Walker sold 1,156 shares of Avery Dennison stock in a transaction on Friday, February 6th. The shares were sold at an average price of $192.95, for a total value of $223,050.20. Following the sale, the senior vice president directly owned 7,588 shares of the company’s stock, valued at $1,464,104.60. This represents a 13.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,156 shares of company stock worth $5,930,150 in the last ninety days. 0.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AVY. Norges Bank bought a new stake in Avery Dennison during the fourth quarter valued at approximately $188,438,000. Morgan Stanley increased its holdings in shares of Avery Dennison by 20.1% in the 4th quarter. Morgan Stanley now owns 3,869,889 shares of the industrial products company’s stock worth $703,856,000 after buying an additional 647,795 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Avery Dennison by 12.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,808,960 shares of the industrial products company’s stock valued at $942,039,000 after buying an additional 644,664 shares in the last quarter. Cooke & Bieler LP bought a new stake in shares of Avery Dennison during the 4th quarter worth $105,616,000. Finally, Balyasny Asset Management L.P. purchased a new position in Avery Dennison in the third quarter worth $74,942,000. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Company Profile

Avery Dennison (NYSE:AVY) is a global materials science and manufacturing company specializing in labeling and packaging solutions. The company develops pressure-sensitive materials, tags and labels, and adhesive technologies that help brands and businesses enhance product identification, branding and supply-chain performance. Avery Dennison’s offerings range from industrial and retail labeling to high-performance tapes, films and graphics materials used across multiple end markets.

The company operates through several key segments, including Label and Graphic Materials, which supplies pressure-sensitive materials for consumer goods; Retail Branding and Information Solutions, offering apparel tags, RFID inlays and digital product identification; Pressure-Sensitive Materials, providing specialty tapes and adhesives; and RF Technologies, focused on advanced RFID and IoT labeling solutions.